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<ul><li>At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Thursday, led by positive cues from the global markets. They ended at record highs on Monday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-at-record-highs-as-markets-cheer-900-billion-stimulus/articleshow/80001212.cms">US stocks closed </a>at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday. The Dow Jones Industrial Average closed 0.68% higher, and the S&amp;P 500 was up 0.87%. These are the stocks to watch out for during the trading session today: Wipro Wipro’s ₹9,500 crore share buyback will begin today (December 29) and remain open until January 11. The last date for settlement of bids on the stock exchange will be on or before January 20. Future Retail and RIL The shares of Future Retail and RIL will be in focus during the trade today. The American e-commerce giant Amazon Inc <a href="https://www.livemint.com/companies/news/amazon-asks-sebi-to-wait-for-siac-order-11609180801940.html">has asked India’s markets regulator</a> to wait for a Singapore court’s final order before clearing future group companies’ merger. Biocon Biotechnology major Biocon has launched Tacrolimus capsules, an immunosuppressant, in the US market. Tacrolimus is used in the treatment of organ transplant patients, and it reduces the body’s ability to reject a transplanted organ. Titan Titan’s board has approved to provide corporate guarantees worth ₹906 crore to various banks on behalf of Titan Commodity Trading, a wholly-owned subsidiary of the company. AU Small Finance Bank AU Small Finance Bank announced that it has partnered with the private life insurance company ICICI Prudential Life Insurance to offer need and goal-based life insurance solutions. With this arrangement, the bank said over 18 lakh customers of the bank across over 700 banking touchpoints would have easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life. Cochin Shipyard Cochin Shipyard’s board is scheduled to meet on January 4 to consider the declaration of interim dividend to the company’s equity shareholders for the financial year 2020-21. 3i Infotech IT firm 3i Infotech has entered into definitive agreements to sell its software products business to the funds advised by Apax Partners for ₹1,000 crore. The software products business will be acquired by a newly formed Azentio Software company, wholly-owned by the Apax Funds, a statement said. Reliance Capital Anil Ambani’s Reliance Group company, Reliance Capital on Monday raised objection to the proposed 33.12% stake sale of Prime Focus (PFL) by Credit Suisse to PFL’s promoter group at ₹44.15 per share. The debt-ridden firm, Reliance Capital, termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group, the company said in a statement. SBI Life Insurance The Board of Directors of SBI Life Insurance Company on December 28 approved the appointment of Shobinder Duggal as an Additional Director in the company. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

<ul><li>In April, <keyword id="606164" type="COMPANY" weightage="20" keywordseo="Franklin-Templeton-India">Franklin Templeton India</keyword> shut down six debt funds, locking in ₹30,800 crore of investor wealth after a surge in redemptions.</li><li>Explaining the reason behind this, Franklin Templeton CEO Jennifer M Johnson said that this is a liquidity issue and not a solvency issue.</li><li>Franklin Templeton India’s assets under management (AUM) declined by almost 43% – from $7 billion to $4 billion.</li></ul>Franklin Templeton India, one of the oldest <keyword id="35469" type="ORGANIZATION" weightage="20" keywordseo="asset-management-companies">asset management companies</keyword> (AMC) in the country, decided to wind down six debt funds amounting to ₹30,800 crore in investor wealth. Now, in an earnings call, Franklin Templeton President and CEO Jennifer M Johnson has explained what exactly went wrong with its India business. “We're doing everything we can for those shareholders, to make sure they get all their money back. That's what the strategy is,” said Franklin’s Chief Financial Officer Matthew Nicholls. ‘This is not a solvency issue’ Franklin global chief Johnson also noted that this is not a solvency issue, and that the winding down was done to protect the capital of clients. The surge in redemptions created a liquidity issue, and to meet it, Franklin Templeton India would have had to ‘sell those assets at a fire sale’, but regulations prevented it from doing so. <div type="Article" hostid="261" msid="75348506" title="A personal finance expert answers the most troubling questions about Franklin Templeton mutual funds" mstype="2" mssubtype="0"></div> 2019 regulation hit Franklin’s debt funds “In October of 2019, unfortunately, SEBI came out with new guidelines saying that any investments in unlisted instruments can't be more than 10% of the fund, and you can't trade them. So that orphaned about 1/3 of our fund there,” Johnson <a href="https://www.fool.com/earnings/call-transcripts/2020/05/01/franklin-resources-inc-ben-q2-2020-earnings-call-t.aspx">said</a> in response to a question by a Goldman Sachs analyst. The AMC had announced the shutdown of the following six funds: <ul><li>Franklin India Low Duration Fund </li><li>Franklin India Dynamic Accrual Fund </li><li>Franklin India Credit Risk Fund </li><li>Franklin India Short Term Income Plan </li><li>Franklin India Ultra Short Bond Fund </li><li>Franklin India Income Opportunities Fund </li></ul>Due to these six funds being shut down, ₹30,800 crore of investor wealth has been locked in. Franklin Templeton India’s AUM declined from $7 billion to $4 billion The Coronavirus crisis coupled with the economic slowdown has led to a decline of almost 43% in Franklin Templeton India’s assets under management (AUM) when it comes to debt funds. “Now, in the meantime, we worked hard to manage laddering maturities, diversifying sectors, diversifying ownership and had been able to manage a decline from about $7 billion to just under $4 billion,” Johnson added. Vodafone Idea AGR ruling ‘created a run on the funds’ Explaining the reason for the decline in its AUM, Johnson said that the adverse ruling against Vodafone Idea in the AGR case ‘created a bit of a run on the funds’. “We looked at it and just decided the only way to really preserve the value for our investors was to halt any kind of subscriptions and redemptions and really go into wind-down mode,” Johnson explained the reasoning behind winding down the six debt funds. SEBI launches probe in Franklin Templeton’s India unit Market regulator SEBI launched a probe into Franklin Templeton’s India unit, according to a report by Livemint. The probe seeks to understand if the AMC misrepresented the risk involved in these funds. “The queries from SEBI are on the portfolio of these six schemes, rationale for choosing these papers, extent of bank borrowing, and how liquid the underlying bonds are,” the <a href="https://www.livemint.com/news/india/franklin-templeton-s-decision-to-wind-up-6-debt-schemes-attracts-multiple-probes-11588503867942.html">report</a> added, quoting an unnamed source. See also: <a href="https://www.businessinsider.in/personal-finance/news/a-personal-finance-expert-answers-the-most-troubling-questions-about-franklin-templeton-mutual-funds/articleshow/75348506.cms">A personal finance expert answers the most troubling questions about Franklin Templeton mutual funds</a> <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months</a> <a href="https://www.businessinsider.in/business/news/without-rbis-help-rupee-value-might-slump-to-80-per-dollar-says-report/articleshow/75273796.cms">Without RBI’s help, Rupee value might slump to 80 per dollar says report</a>

Franklin Templeton reassures Indian investors that their money is safe — and the delay in repayments is due to cash crunch

Welcome to <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Dispensed Daily</a>, your daily dose of <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> news from Business Insider's healthcare editor Lydia Ramsey Pflanzer. <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Subscribe here to get this newsletter in your inbox every weekday.</a>Hello,Happy Tuesday! Today, a look at what's inside Congress's next <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> <keyword id="41832" type="PERSON" weightage="60" keywordseo="Stimulus-bill">stimulus bill</keyword>, a plant-based coronavirus <keyword id="24209" type="PERSON" weightage="60" keywordseo="vaccine">vaccine</keyword> makes it into human testing, and a look at the downfall of Civilized, a cannabis media startup.<a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7"><div type="image" title="Senate Majority Leader Mitch McConnell" height="1000" width="1333" msid="76962295" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">From stimulus checks to unemployment benefits, top analysts shared their predictions for the next coronavirus bailout package. They're pegging it at $1.5 trillion.</a></h3><ul><li>Congress and the Trump administration are negotiating another coronavirus stimulus bill.</li><li>Top analysts told us the legislation will spend $1.5 trillion in all.</li><li>As part of it, <a href="https://www.businessinsider.com/analyst-predictions-for-unemployment-benefits-in-stimulus-package-2020-7">analysts say they expect the next coronavirus bailout to blend unemployment payments and back-to-work bonuses.</a></li><li><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">Here's what's expected in the next bill.</a></li></ul><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">Read the full story from Kimberly Leonard here&gt;&gt;</a><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7"><div type="image" title="Medicago Durham North Carolina greenhouse, coronavirus vaccine" height="1333" width="1778" msid="76962296" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">The Canadian biotech Medicago is betting it can make a coronavirus vaccine out of plants, and it just started testing it in humans</a></h3><ul><li>Among the more than 150 research programs working to develop a coronavirus vaccine, <keyword id="2478340" type="COMPANY" weightage="60" keywordseo="Medicago">Medicago</keyword> stands out with its plant-focused approach.</li><li> Medicago developed its vaccine using a unique approach that turns the cells of a tobacco-like crop into protein-producing minifactories, CEO Bruce Clark told Business Insider. </li><li><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">On Tuesday, the privately held Canadian drugmaker started testing its vaccine candidate in humans.</a></li></ul><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">Read the full story from Andrew Dunn here&gt;&gt;</a><h3><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6"><div type="image" title="civilized cannabis media company downfall 4x3" height="1801" width="2400" msid="76962300" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">The inside story of the downfall of Civilized, a cannabis media startup that raised $7 million, then had to shut down after a takeover offer fell through</a></h3><ul><li>Civilized and its husband-and-wife founders were soaring as cannabis legalization looked poised to sweep the US a few years ago.</li><li>But after a series of layoffs and business pivots, as well as a failed takeover attempt, Civilized has let go of all of its staff and suspended operations.</li><li><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">Civilized's management team told Business Insider they were in negotiations to restructure their debt and bring on new investors for a relaunch.</a></li></ul><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">Read the full story from cannabis senior reporter Jeremy Berke here&gt;&gt;</a>More stories we're reading:<ul><li><a href="https://www.statnews.com/2020/07/13/cdc-apolitical-island-defenseless/">The CDC's apolitical stance made it vulnerable to President Trump</a> (Stat News) </li><li><a href="https://www.businessinsider.com/who-perfect-coronavirus-vaccine-not-likely-immediately-2020-7">WHO: We won't immediately have a 'perfect vaccine,' and it is 'not realistic' to expect the virus will soon be eliminated</a> (Business Insider)</li><li><a href="https://www.reuters.com/article/us-india-biocon/indias-biocon-secures-approval-use-drug-on-coronavirus-patients-idUSKCN24C0K8">Drugmaker Biocon got approved to use its drug itolizumab to treat coronavirus patients in India</a> (Reuters)</li><li><a href="https://markets.businessinsider.com/news/stocks/moderna-stock-price-forecast-coronavirus-vaccine-jefferies-wall-street-bull-2020-7-1029388494">Moderna surges 18% on report the stock will join the Nasdaq 100 and as analyst predicts 45% upside</a> (Markets Insider) </li></ul>What trends in healthcare are you keeping an eye on? Let me know at lramsey@businessinsider.com.<a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">And remember to subscribe to this daily email here.</a>- Lydia

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Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

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Franklin Templeton reassures Indian investors that their money is safe — and the delay in repayments is due to cash crunch

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Here's what top analysts expect in the next coronavirus bailout

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